Bellevue Group AG Buys 410,516 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Bellevue Group AG lifted its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 34.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,612,612 shares of the medical research company’s stock after purchasing an additional 410,516 shares during the period. Bellevue Group AG owned 1.26% of NeoGenomics worth $23,786,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of NeoGenomics by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 645,492 shares of the medical research company’s stock valued at $10,148,000 after purchasing an additional 4,528 shares during the period. Blue Trust Inc. lifted its position in shares of NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock valued at $32,000 after buying an additional 1,206 shares during the last quarter. Oak Family Advisors LLC boosted its stake in shares of NeoGenomics by 1.4% during the 2nd quarter. Oak Family Advisors LLC now owns 109,095 shares of the medical research company’s stock worth $1,513,000 after acquiring an additional 1,454 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of NeoGenomics by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the medical research company’s stock worth $892,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in NeoGenomics by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 953,875 shares of the medical research company’s stock valued at $13,230,000 after acquiring an additional 16,023 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Stock Performance

Shares of NeoGenomics stock opened at $17.73 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $14.75 and a 200-day moving average of $14.90. NeoGenomics, Inc. has a 1-year low of $12.77 and a 1-year high of $21.22.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The company had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. During the same quarter last year, the company posted ($0.06) EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts expect that NeoGenomics, Inc. will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the sale, the general counsel now owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. The trade was a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

NEO has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Wednesday, November 6th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.25.

NeoGenomics Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.